ORCANA RESOURCES -v-ocn /Hot MEXICAN PROPERTIES- Message Board

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Gold/Mining/Energy : ORCANA RESOURCES -v-ocn /Hot MEXICAN PROPERTIES-

OCN 49.98

+6.7%

Jan 9 9:30 AM EST

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To: tanoose who wrote (52)	3/28/1997 10:48:00 AM
From: John Swallow	of 84

Frank, I talked with John Tait and asked about the company. He didn't seem to know why its been hit this hard and seemed disappointed as his shares have also declined. He said that their main focus is the Moly property right now and that they have a few packages just sent in to some majors and expecting word back in a week or so. Mr. Tait also said that he thought some of the drop was because they haven't had news out in a while but that they weren't going to release news just to release something. Additionally, he said that their geologist is looking for more properties but is focused on good potential and not just any property. Anyway, it didn't sound bad as far as the company goes...but wish I knew what the seller did. Oh yeh, he also said that the Moly property has been valued at something like $63 million (I don't remember exactly what he said) and that the problem is that Moly doesn't get the respect in the market that some of the other metals get. Oh well...take it for what it is, not much but not necessarily bad news either. Good Luck, John

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